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Latest EMGS News

• The acquisition consideration included approximately $1.0 billion of cash and 19.95 million unregistered MWE Class B Units to EMG.
• MarkWest and EMG are also entering into a new Utica Shale midstream joint venture to develop significant natural gas processing.

• EMGS will perform a multi-client 3D magnetotelluric survey in the fourth quarter of 2011 covering approx. 3000 km2 in the Møre basin, Norwegian Sea. The project is pre-funded by a major international oil and gas company.

• Electromagnetic Geoservices ASA has been awarded a contract by a new customer partnership to acquire and process 3D electromagnetic (EM) data offshore Ghana
• The contract value is about USD 5.5 million, and data acquisition will be performed by the 3D EM vessel BOA Galatea starting in early October

• EMGS to acquire OHM Surveys Holding AS for USD 15.75 million in a stock-for-stock transaction
• EMGS in agreement with Seatrans Group to charter the two vessels OHM Leader and OHM Express on a pay-per-use basis
• The transaction will result in the issue of 8,305,369 shares in EMGS to the sellers, representing 4.23% of the outstanding shares in EMGS
• The transaction also includes a pre-paid service agreement worth approximately $2.6 million between OHM and Rock Solid Images

• Electromagnetic Geoservices awarded a contract worth USD 90 million by Petrobras to perform a range of electromagnetic surveys in frontier and mature basins offshore Brazil
• Data acquisition to be performed using the vessel BOA Galatea and is expected to take approximately one year. Petrobras has requested start-up as soon as practically possible
• EMGS has recently strengthened its Rio de Janeiro office with further EM expertise and processing capabilities to address the Petrobras contract and the growing market opportunities in South America

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